Q3 2022 Report of Luzhou Laojiao Co., Ltd.
Stock Code: 000568 Stock abbreviation: Luzhou Laojiao Announcement No. 2022-59
Luzhou Laojiao Co., Ltd.
Q3 2022 Report
Luzhou Laojiao Co., Ltd. (hereinafter referred to as the “Company”) and
all the members of the Company’s Board of Directors hereby guarantee
that the contents of this Report are true, accurate and complete and
free of any misrepresentations, misleading statements or material
omissions.
Important Statements:
1. The Board of Directors, Board of Supervisors, directors, supervisors and senior management
guarantee that the information presented in this report is free of any false records, misleading
statements or material omissions, and shall individually and together be legally liable for truthfulness,
accuracy and completeness of its contents.
2. The responsible person for the Company, the responsible person for accounting work and the
responsible person for the Company’s financial affairs (Accounting Supervisor) have warranted that
the financial statements in this report are true, accurate and complete.
3. Whether the financial statements of this report have been audited by an auditor
□Yes No
This report has been prepared in both Chinese and English. Should there be any discrepancies or
misunderstandings between the two versions, the Chinese version shall prevail.
1. Key financial information
1.1 Key accounting data and financial indicators
Whether the Company performed a retroactive adjustment to or restatement of accounting data.
□Yes No
Q3 2022 YoY change Q1-Q3 2022 YoY change
Operating revenues
5,860,457,699.51 22.28% 17,524,835,252.45 24.20%
(CNY)
Net profits
attributable to 2,685,377,572.64 31.05% 8,217,303,913.08 30.94%
shareholders of the
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Q3 2022 Report of Luzhou Laojiao Co., Ltd.
Company (CNY)
Net profits
attributable to
shareholders of the
2,670,975,274.37 29.14% 8,167,241,116.87 30.12%
Company before
non-recurring gains
and losses (CNY)
Net cash flows from
operating activities — — 6,312,342,160.13 59.56%
(CNY)
Basic earnings per
1.83 30.71% 5.59 30.61%
share (CNY/share)
Diluted earnings per
1.83 30.71% 5.59 30.61%
share (CNY/share)
Weighted average
9.39% 0.94% 27.35% 2.13%
ROE
30 September 2022 31 December 2021 Change
Total assets (CNY) 43,472,427,404.76 43,211,782,005.68 0.60%
Net assets
attributable to
31,834,827,306.16 28,040,247,005.94 13.53%
shareholders of the
Company (CNY)
1.2 Non-recurring gains and losses
Applicable □ N/A
Unit: CNY
Item Q3 2022 Q1-Q3 2022 Note
Gain or loss from disposal
of non-current assets
(including the write-off 0.00 19,789,402.07
portion of the impairment
provision)
Government grants
accounted for, in the profit
or loss for the current
period (except for the
government grants closely
related to the business of
1,893,563.05 11,034,759.43
the Company and
continually given at a fixed
amount or quantity in
accordance with the
national policies and
standards)
Gain or loss on fair-value
changes on held-for-
trading financial assets and
liabilities & income from
disposal of held-for-trading
financial assets and
14,351,771.05 25,042,544.66
liabilities and available-for-
sale financial assets
(exclusive of the effective
portion of hedges that arise
in the Company’s ordinary
course of business)
Other non-operating
income and expenditure
2,943,747.33 12,130,471.15
except above-mentioned
items
Less: Corporate income
4,786,668.37 16,717,503.81
tax
Minority interests 114.79 1,216,877.29
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Q3 2022 Report of Luzhou Laojiao Co., Ltd.
(after tax)
Total 14,402,298.27 50,062,796.21 --
Other items that meet the definition of non-recurring gain/loss:
□Applicable N/A
No such cases for the reporting period.
Explain the reasons if the Company classifies any non-recurring gain/loss item mentioned in the
Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities
to the Public-Non-Recurring Gains and Losses as a recurring gain/loss item.
□Applicable N/A
No such cases for the reporting period.
1.3 Changes in key financial data and indicators and reasons for the changes
Applicable N/A
A. The closing balance of held-for-trading financial assets increased by CNY 603,550,156.75 compared
to the opening balance at the beginning of the year, indicating an increase of 85.45%. It was mainly due
to the purchase of wealth management product (collective asset management plan) from securities firm
in the current period.
B. The closing balance of accounts receivables financing decreased by CNY 2,177,074,476.67
compared to the opening balance at the beginning of the year, indicating a decrease of 45.76%. It was
mainly due to the discounted notes and the payments for notes that became due in the current period.
C. The closing balance of other current assets decreased by CNY 93,316,509.91 compared to the
opening balance at the beginning of the year, indicating a decrease of 83.34%. It was mainly due to the
rebates of the overpaid value-added taxes in the current period.
D. The closing balance of investments in other equity instruments increased by CNY 626,694,109.96
compared to the opening balance at the beginning of the year, indicating an increase of 172.49%. It
was mainly due to the new equity investment in China Tourism Group Duty Free Corporation Limited.
E. The closing balance of construction in progress decreased by CNY 612,811,224.12 compared to the
opening balance at the beginning of the year, indicating a decrease of 48.64%. It was mainly due to that
improvement and technical renovation projects for production support purposes that had been
completed and met the expected conditions for use were transferred to fixed assets in the current
period.
F. The closing balance of deferred tax assets decreased by CNY 555,192,636.41 compared to the
opening balance at the beginning of the year, indicating a decrease of 56.30%. It was mainly due to the
decreased unrealized profits of internal transactions in the current period.
G. The closing balance of contract liabilities decreased by CNY 1,609,645,191.76 compared to the
opening balance at the beginning of the year, indicating a decrease of 45.86%; and the closing balance
of other current liabilities decreased by CNY 209,253,874.93 compared to the opening balance at the
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Q3 2022 Report of Luzhou Laojiao Co., Ltd.
beginning of the year, indicating a decrease of 45.86%. It was mainly due to the decreased advances
from customers in the current period.
H. The closing balance of taxes payable decreased by CNY 1,738,762,573.81 compared to the opening
balance at the beginning of the year, indicating a decrease of 54.79%. It was mainly due to the payment
in the current period of taxes payable as at the end of last year.
I. The closing balance of other payable increased by CNY 603,833,719.88 compared to the opening
balance at the beginning of the year, indicating an increase of 92.56%. It was mainly due to the
liabilities recognized on repurchase obligations under the restricted share incentive plan.
J. The closing balance of long-term loans increased by CNY 2,480,000,000.00 compared to the
opening balance at the beginning of the year. It was mainly due to the receipt of bank loan in the
current period.
K. The closing balance of bonds payable decreased by CNY 2,493,633,042.12 compared to the
opening balance at the beginning of the year, indicating a decrease of 62.48%. It was mainly due to the
put-back of the “19 Lao Jiao 01” bonds in the current period.
L. Research and Development expenses in the current Q1-Q3 period increased by CNY 68,703,352.19
compared to the same period of last year, indicating an increase of 99.74%. It was mainly due to the
increased comprehensive research and development investments in the current period.
M. Investment income in the current Q1-Q3 period decreased by CNY 111,328,133.56 compared to the
same period of last year, indicating a decrease of 62.82%. It was mainly due to the decreased earnings
of investee.
N. Net profits attributable to shareholders of the Company in the current Q1-Q3 period increased by
CNY 1,941,802,491.53 compared to the same period of last year, indicating an increase of 30.94%; and
income tax expenses in the current Q1-Q3 period increased by CNY 694,049,708.67 compared to the
same period of last year, indicating an increase of 34.46%. It was mainly due to the increased sales
revenue from baijiu and the correspondingly increased profit in the current period.
O. Net cash flows from operating activities in the current Q1-Q3 period increased by CNY
2,356,289,255.96 compared to the same period of last year, indicating an increase of 59.56%. It was
mainly due to the increased cash received from sale of goods in the current period.
P. Net cash flows from investing activities in the current Q1-Q3 period decreased by CNY
658,250,495.45 compared to the same period of last year, indicating a decrease of 56.73%. It was
mainly due to the purchase of wealth management product (collective asset management plan) from
securities firm in the current period.
Q. Net cash flows from financing activities in the current Q1-Q3 period decreased by CNY
1,122,196,868.00 compared to the same period of last year, indicating a decrease of 35.81%. It was
mainly due to the increased cash paid for debt repayments and distribution of dividends in the current
period.
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Q3 2022 Report of Luzhou Laojiao Co., Ltd.
2. Shareholder information
2.1 Total numbers of common shareholders and preference shareholders with resumed voting
rights as well as shareholdings of top 10 shareholders
Unit: Share
Total number of common Total number of preference shareholders with
shareholders at the end of the 106,658 resumed voting rights at the end of the reporting 0
reporting period period (if any)
Shareholdings of the top 10 shareholders
Number of Pledged, marked or frozen
Name of Nature of Shareholding Total shares holding shares
shareholder shareholder percentage held restricted Status of Number of
shares shares shares
Luzhou
State-owned
Laojiao Group 25.89% 381,088,389
corporation
Co., Ltd.
Luzhou
XingLu
State-owned
Investment 24.86% 365,971,142
corporation
Group Co.,
Ltd.
Hong Kong
Securities
Outbound
Clearing 3.18% 46,805,695
corporation
Company
Limited
Bank of China
Co., Ltd. –
Baijiu index
classification
securities Other 3.16% 46,522,150
investment
fund by China
Merchants
Fund
China
Securities
Finance Other 2.30% 33,842,059
Corporation
Limited
Bank of China
Co., Ltd.－
Blue chip
selected
hybrid Other 1.56% 22,930,000
securities
investment
fund by E
Fund
Industrial and
Commercial
Bank of China
Co., Ltd.-
Newly growth
hybrid Other 1.15% 16,965,300
securities
investment
fund by
Invesco Great
Wall
Central Huijin State-owned
0.92% 13,539,862
Asset corporation
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Q3 2022 Report of Luzhou Laojiao Co., Ltd.
Management
Co., Ltd.
Agricultural
Bank of China
Co., Ltd. -
Consumption
industry stock
Other 0.72% 10,573,293
- based
securities
investment
fund by E
Fund
China Life
Insurance
Company
Ltd.-Tradition-
Other 0.53% 7,870,900
Common
Insurance
Product-005L-
CT001 Shen
Shareholdings of the top 10 non-restricted shareholders
Type of shares
Name of shareholder Number of non-restricted shares held
Type Number
CNY common
Luzhou Laojiao Group Co., Ltd. 381,088,389 381,088,389
shares
Luzhou XingLu Investment CNY common
365,971,142 365,971,142
Group Co., Ltd. shares
Hong Kong Securities Clearing CNY common
46,805,695 46,805,695
Company Limited shares
Bank of China Co., Ltd. – Baijiu
index classification securities CNY common
46,522,150 46,522,150
investment fund by China shares
Merchants Fund
China Securities Finance CNY common
33,842,059 33,842,059
Corporation Limited shares
Bank of China Co., Ltd.－Blue
CNY common
chip selected hybrid securities 22,930,000 22,930,000
shares
investment fund by E Fund
Industrial and Commercial
Bank of China Co., Ltd.-Newly
CNY common
growth hybrid securities 16,965,300 16,965,300
shares
investment fund by Invesco
Great Wall
Central Huijin Asset CNY common
13,539,862 13,539,862
Management Co., Ltd. shares
Agricultural Bank of China Co.,
Ltd. - Consumption industry CNY common
10,573,293 10,573,293
stock - based securities shares
investment fund by E Fund
China Life Insurance Company
Ltd.-Tradition-Common CNY common
7,870,900 7,870,900
Insurance Product-005L-CT001 shares
Shen
1. Luzhou Laojiao Group Co., Ltd. and Luzhou XingLu Investment
Group Co., Ltd. are both holding state-owned companies under
the jurisdiction of SASAC of Luzhou. The two companies signed
the agreement of persons acting in concert on 31 December
Related parties or acting-in-concert 2015. For details, please refer to the announcement of the
Company on 5 January 2016 - Announcement on the agreement
of persons acting in concert signed by shareholders. The
announcement number is 2016-1 (http://www.cninfo.com.cn/). The
two companies signed the renewed agreement of persons acting
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Q3 2022 Report of Luzhou Laojiao Co., Ltd.
in concert on 27 May 2021. For details, please refer to the
announcement of the Company on 29 May 2021 - Announcement
on the renewed agreement of persons acting in concert signed by
shareholders. The announcement number is 2021-18
(http://www.cninfo.com.cn/).
2. In addition, whether there is an association between the
remaining shareholders or they belong to persons acting in
concert is unknown.
Top 10 shareholders participating in securities
N/A
margin trading (if any)
2.2 Total number of preferred shareholders and shareholdings of the top 10 preferred
shareholders
□Applicable N/A
3. Other significant events
Applicable N/A
A. The Company disclosed in October 2014 and January 2015 respectively the contract disputes
involving three savings deposits of CNY 500 million in total with banks including ABC Changsha
Yingxin Branch and ICBC Nanyang Zhongzhou Branch. Upon criminal booty recovery, criminal and
civil enforcement, as of 30 September 2022, the Company had recovered a total amount of CNY
370.9505 million for the three disputes.
See details in the Company’s announcements:
Date of announcement No. Catalogue Official website
15 October 2014 2014-35 Announcement of significant litigation http://www.cninfo.com.cn/
12 November 2014 2014-41 Announcement of significant litigation progress
6 December 2014 2014-43 Announcement of significant litigation progress part II
10 January 2015 2015-1 Announcement of significant events
4 February 2015 2015-4 Announcement of significant events progress
25 March 2015 2015-11 Announcement of significant litigation progress part III
18 April 2015 2015-20 Announcement of significant litigation progress part IV
22 April 2015 2015-21 Announcement of significant events progress part II
24 April 2015 2015-25 Announcement of significant litigation progress part V
15 July 2015 2015-44 Announcement of significant litigation progress part VI
22 July 2015 2015-45 Announcement of significant litigation progress part
VII
6 June 2018 2018-17 Announcement of significant litigation progress part
VIII
7 May 2019 2019-11 Announcement of significant litigation progress part IX
17 May 2019 2019-13 Announcement of significant litigation progress part X
24 March 2020 2020-6 Announcement of significant litigation progress part XI
6 May 2020 2020-14 Announcement of significant litigation progress part
XII
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Q3 2022 Report of Luzhou Laojiao Co., Ltd.
7 November 2020 2020-34 Announcement of significant litigation progress part
XIII
6 July 2021 2021-30 Announcement of significant litigation progress part
XIV
15 December 2021 2021-57 Announcement of significant litigation progress part
XV
30 December 2021 2021-64 Announcement of significant litigation progress part
XVI
B. The Company invested in the technical upgrade program of intelligent brewing (Phase I) with the
wholly-owned subsidiary, Luzhou Laojiao Brewing Co., Ltd., as the implementer. The total investment
amount approximated CNY 4,782.5090 million. The program has been approved at the First
Extraordinary General Meeting of 2022 on 16 August 2022. For further information, see
Announcement No. 2022-24 on the Implementation of Luzhou Laojiao’s Technical Upgrade Program
of Intelligent Brewing (Phase I) by Subsidiary (http://www.cninfo.com.cn/).
C. The term of “19 Lao Jiao 01” is five years with the issuer’s option for adjustment to the stated
interest rate and the investor’s option for put back at the end of the 3rd year. Bond holders may
choose to put back all or part of their bond holdings to the Company during the put-back period (1
August 2022 to 5 August 2022), and the Company will pay on 29 August 2022. According to data from
the Shenzhen branch of China Securities Depository and Clearing Corporation Limited, this was an
all-put-back. Upon the put-back, “19 Lao Jiao 01” was delisted from the Shenzhen Stock Exchange
on 29 August 2022. For further information, see Announcement No. 2022-42 on the Put-back Results
and Delisting of “19 Lao Jiao 01” (http://www.cninfo.com.cn/).
D. At the 7th Meeting of the 10th Board of Directors of the Company on 26 September 2021, the
Proposal on 2021 Restricted Share Incentive Scheme (Draft) and its Summary of Luzhou Laojiao Co.,
Ltd. and other relevant proposals were approved. On 29 December 2021, the Company held the 1st
Extraordinary General Meeting of Shareholders of 2021 to approve the above proposals. On 25 July
2022, the Company held the 18th Meeting of the 10th Board of Directors to approve the Proposal on
the Grant of Reserved Restricted Shares to Awardees, which determined to grant 324,334 restricted
shares to the eligible 46 awardees at CNY 92.71 per share with 25 July 2022 as the grant date. In the
process, as the Company’s plan for profit distribution for 2021 had been implemented, the grant price
of the reserved restricted shares was adjusted to CNY 89.466 per share according to the 2021
Restricted Share Incentive Scheme (Draft) and the 2021 profit distribution. On 26 September 2022,
the Company completed the registration of the grant of the reserved restricted shares. For details,
please refer to Announcement No. 2022-54 on the Completion of the Registration of the Grant of the
Reserved Restricted Shares under the 2021 Restricted Share Incentive Scheme
(http://www.cninfo.com.cn/). Upon completion of the grant registration, the total number of shares of
the Company increased from 1,471,615,076 to 1,471,957,410.
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Q3 2022 Report of Luzhou Laojiao Co., Ltd.
4. Financial statements
4.1 Financial statements
4.1.1 Consolidated balance sheet
Prepared by: Luzhou Laojiao Co., Ltd.
30 September 2022
Unit: CNY
Item 30 September 2022 1 January 2022
Current assets:
Cash and cash equivalents 13,684,458,440.06 13,513,494,580.56
Settlement reserves
Lending funds
Held-for-trading financial assets 1,309,902,398.54 706,352,241.79
Derivative financial assets
Notes receivables
Accounts receivables 2,635,634.68 1,628,248.55
Accounts receivables financing 2,580,557,301.97 4,757,631,778.64
Prepayment 156,186,433.45 178,087,688.81
Premiums receivable
Reinsurance accounts receivable
Reinsurance contract reserve
Other receivables 54,804,627.10 28,615,361.96
Including：Interests receivable
Dividends receivable 30,717,114.40
Buying back the sale of financial
assets
Inventories 8,977,145,505.91 7,277,573,166.80
Contract assets
Assets held for sale
Non-current assets due within one
year
Other current assets 18,658,023.00 111,974,532.91
Total current assets 26,784,348,364.71 26,575,357,600.02
Non-current assets:
Disbursement of loans and advances
Investments in debt obligations
Investments in other debt obligations
Long-term receivables
Long-term equity investments 2,646,616,947.39 2,626,744,236.25
Investments in other equity
990,006,230.39 363,312,120.43
instruments
Other non-current financial assets
Investment property
Fixed assets 8,639,943,352.20 8,089,487,274.39
Construction in progress 647,034,263.38 1,259,845,487.50
Productive biological assets
Oil and gas assets
Use right assets 45,631,986.52 52,714,810.04
Intangible assets 2,534,273,548.89 2,606,359,188.72
Development expenses
Goodwill
Long-term deferred expenses 832,344.46 1,463,869.21
Deferred tax assets 430,920,347.01 986,112,983.42
Other non-current assets 752,820,019.81 650,384,435.70
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Q3 2022 Report of Luzhou Laojiao Co., Ltd.
Total non-current assets 16,688,079,040.05 16,636,424,405.66
Total assets 43,472,427,404.76 43,211,782,005.68
Current liabilities:
Short-term loans
Borrowings from the central bank
Loans from other banks
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable
Accounts payable 1,852,799,816.81 2,420,354,469.53
Advance from customer
Contract liabilities 1,900,465,509.49 3,510,110,701.25
Financial assets sold for repurchase
Deposits from customers and inter-
bank
Customer brokerage deposits
Securities underwriting brokerage
deposits
Employee benefits payable 613,969,735.94 648,103,740.96
Taxes payable 1,434,717,053.98 3,173,479,627.79
Other payable 1,256,227,012.48 652,393,292.60
Including：Interests payable
Dividends payable
Handling charges and commissions
payable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due within one
61,125,173.83 86,202,215.03
year
Other current liabilities 247,060,516.24 456,314,391.17
Total current liabilities 7,366,364,818.77 10,946,958,438.33
Non-current liabilities:
Insurance contract reserves
Long-term loans 2,480,000,000.00
Bonds payable 1,497,152,700.11 3,990,785,742.23
Including：Preference shares
Perpetual bonds
Lease liabilities 39,462,584.33 40,667,668.08
Long-term payables
Long-term payroll payables
Accrued liabilities
Deferred income 23,918,299.99 28,531,014.28
Deferred tax liabilities 89,621,813.38 67,578,019.93
Other non-current liabilities
Total non-current liabilities 4,130,155,397.81 4,127,562,444.52
Total liabilities 11,496,520,216.58 15,074,520,882.85
Owners' equity
Share capital 1,471,957,410.00 1,464,752,476.00
Other equity instruments
Including: preference shares
Perpetual bonds
Capital reserves 4,700,360,465.66 3,755,354,665.73
Less: treasury stock 644,596,625.24
Other comprehensive income 211,093,110.48 167,527,152.32
Special reserves
Surplus reserves 1,464,752,476.00 1,464,752,476.00
General risk reserve
Undistributed profits 24,631,260,469.26 21,187,860,235.89
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Q3 2022 Report of Luzhou Laojiao Co., Ltd.
Total equity attributable to owners of
31,834,827,306.16 28,040,247,005.94
the parent company
Non-controlling interests 141,079,882.02 97,014,116.89
Total owners' equity 31,975,907,188.18 28,137,261,122.83
Total liabilities and owners' equity 43,472,427,404.76 43,211,782,005.68
Legal representative：Liu Miao
Person in charge of accounting affairs：Xie Hong
Person in charge of accounting department：Yan Li
4.1.2 Consolidated income statement for Q1~Q3
Unit: CNY
Item Q1~Q3 2022 Q1~Q3 2021
1. Total operating revenue 17,524,835,252.45 14,109,824,614.36
Including: Operating revenue 17,524,835,252.45 14,109,824,614.36
Interest income
Earned premium
Fee and commission
income
2. Total operating costs 6,671,750,076.73 5,985,994,328.76
Including: Cost of sales 2,316,985,816.71 1,933,662,885.73
Interest expense
Handling charges and
commission expenses
Refunded premiums
Net payments for
insurance claims
Net provision for
insurance contracts
Bond insurance expense
Reinsurance Expenses
Taxes and surcharges 1,583,439,328.55 1,536,386,462.93
Selling and distribution
2,012,112,125.76 1,936,521,124.25
expenses
General and administrative
831,029,449.34 690,636,840.57
expenses
Research and Development
137,587,756.60 68,884,404.41
expenses
Financial expenses -209,404,400.23 -180,097,389.13
Including：Interest expenses 167,037,242.09 127,324,223.38
Interest income 363,158,884.99 311,337,172.08
Plus: Other income 12,638,291.22 26,298,415.72
Investment income ("-" for losses) 65,877,711.10 177,205,844.66
Including: income from
investment in associates and joint 44,512,210.26 170,543,184.14
ventures
Income from the
derecognition of financial assets
measured at amortized cost
Foreign exchange gains ("-"
for losses)
Net gain on exposure hedges
(“-” for losses)
Gains from the changes in fair
14,327,884.81 423,406.31
values(“-“ for losses)
Credit impairment losses (“-”
-67,457.73 290,207.95
for losses)
Impairment losses(“-“ for
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Q3 2022 Report of Luzhou Laojiao Co., Ltd.
losses)
Gains from disposal of
19,789,402.07 546,546.66
assets("-" for losses)
3. Operating profits ("-" for losses) 10,965,651,007.19 8,328,594,706.90
Plus: non-operating income 16,092,692.23 37,176,240.33
Less: non-operating expenses 3,962,221.08 62,175,944.05
4. Total profits before tax ("-" for
10,977,781,478.34 8,303,595,003.18
total losses)
Less: income tax expenses 2,708,347,721.10 2,014,298,012.43
5. Net profit ("-" for net loss) 8,269,433,757.24 6,289,296,990.75
5.1 By operating continuity
5.1.1 Net profit from continuing
8,269,433,757.24 6,289,296,990.75
operation ("-" for losses)
5.1.2 Net profit from discontinued
operation ("-" for losses)
5.2 By ownership
1) Attributable to shareholders of the
8,217,303,913.08 6,275,501,421.55
parent company ("-" for losses)
2) Attributable to non-controlling
52,129,844.16 13,795,569.20
interests ("-" for losses)
6. Net of tax from other
45,883,555.52 2,382,860.93
comprehensive income
Net of tax from other comprehensive
income to the owner of the parent 43,565,958.16 3,764,965.41
company
6.1 Other comprehensive income
cannot reclassified into the profit and 63,325,296.91 5,960,346.20
loss:
1) Remeasure the variation of net
indebtedness or net asset of defined
benefit plans
2) Share in other comprehensive
income that cannot be classified into
profit and loss under equity method
3) Changes in fair value of
investments in other equity 63,325,296.91 5,960,346.20
instruments
4) Changes in fair value of the
company’s credit risks
5) Other
6.2 Other comprehensive income
that will be reclassified into the profit -19,759,338.75 -2,195,380.79
and loss
1) Share in other comprehensive
income that will be classified into -22,592,920.34 -505,262.02
profit and loss under equity method
2) Changes in fair value of
investments in other debt obligations
3) Other comprehensive income
arising from the reclassification of
financial assets
4) Allowance for credit impairments in
investments in other debt obligations
5) Reserve for cash-flow hedge
6) Balance arising from the
translation of foreign currency 2,833,581.59 -1,690,118.77
financial statements
7) Others
Net of tax from other comprehensive
2,317,597.36 -1,382,104.48
income to non-controlling interests
7. Total comprehensive income 8,315,317,312.76 6,291,679,851.68
(1) Total comprehensive income
attributable to owners of the parent 8,260,869,871.24 6,279,266,386.96
company
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Q3 2022 Report of Luzhou Laojiao Co., Ltd.
(2) Total comprehensive income
attributable to non-controlling 54,447,441.52 12,413,464.72
interests
8. Earnings per share
(1) Basic earnings per share 5.59 4.28
(2) Diluted earnings per share 5.59 4.28
Where business combinations under common control occurred in the current period, the net profit
achieved by the acquirees before the combinations was RMB , with the amount for the same period of
last year being RMB .
Legal representative：Liu Miao
Person in charge of accounting affairs：Xie Hong
Person in charge of accounting department：Yan Li
4.1.3 Consolidated statement of cash flows for Q1~Q3
Unit: CNY
Item Q1~Q3 2022 Q1~Q3 2021
1. Cash flows from operating
activities
Cash received from sale of goods
20,369,485,734.05 15,250,962,923.41
and rendering of services
Net increase in customer bank
deposits and placement from banks
and other financial institutions
Net increase in loans from central
bank
Net increase in loans from other
financial institutions
Premiums received from original
insurance contracts
Net cash received from reinsurance
business
Net increase in deposits and
investments from policyholders
Cash received from interest, handling
charges and commissions
Net increase in placements from
other financial institutions
Net capital increase in repurchase
business
Net cash received from customer
brokerage deposits
Refunds of taxes and surcharges 95,698,863.27 27,632,356.79
Cash received from other operating
834,990,702.97 532,118,779.80
activities
Subtotal of cash inflows from
21,300,175,300.29 15,810,714,060.00
operating activities
Cash paid for goods purchased and
4,863,419,709.63 3,321,392,121.89
services received
Net increase in loans and advances
to customers
Net increase in deposits in central
bank and other banks and financial
institutions
Cash paid for original insurance
contract claims
Net increase in lending funds
Cash paid for interests, handling
charges and commissions
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Q3 2022 Report of Luzhou Laojiao Co., Ltd.
Cash paid for policy dividends
Cash paid to and on behalf of
891,107,837.17 783,309,706.40
employees
Cash paid for taxes and surcharges 7,296,952,201.19 5,858,390,145.04
Cash paid for other operating
1,936,353,392.17 1,891,569,182.50
activities
Subtotal of cash outflows from
14,987,833,140.16 11,854,661,155.83
operating activities
Net cash flows from operating
6,312,342,160.13 3,956,052,904.17
activities
2. Cash flows from investing
activities
Cash received from disposal of
1,421,533,014.75
investments
Cash received from returns on
11,458,335.76 38,354,824.22
investments
Net cash received from disposal of
fixed assets, intangible assets and 47,943,500.00 275,836.47
other long-term assets
Net cash received from disposal of
subsidiaries and other business units
Cash received from other investing
activities
Subtotal of cash inflows from
1,480,934,850.51 38,630,660.69
investing activities
Cash paid to acquire and construct
fixed assets, intangible assets and 717,170,625.85 998,358,951.38
other long-term assets
Cash paid for investments 2,582,285,380.80 200,542,370.00
Net increase in pledge loans
Net cash paid to acquire subsidiaries
and other business units
Cash paid for other investing
activities
Subtotal of cash outflows from
3,299,456,006.65 1,198,901,321.38
investing activities
Net cash flows from investing
-1,818,521,156.14 -1,160,270,660.69
activities
3. Cash flows from financing
activities
Cash received from investors 662,106,513.16 8,305,794.84
Including: cash received by
subsidiaries from investments by 857,683.35 8,305,794.84
minority shareholders
Cash received from borrowings 2,500,000,000.00
Cash received from other financing
activities
Subtotal of cash inflows from
3,162,106,513.16 8,305,794.84
financing activities
Cash paid for debt repayments 2,500,125,000.00
Cash paid for distribution of
dividends and profits or payment of 4,911,607,735.04 3,138,129,017.73
interest
Including: dividends and profits paid
to minority shareholders by 14,784,831.00
subsidiaries
Cash paid for other financing
6,130,416.05 3,736,547.04
activities
Subtotal of cash outflows from
7,417,863,151.09 3,141,865,564.77
financing activities
Net cash flows from financing
-4,255,756,637.93 -3,133,559,769.93
activities
4. Effect of fluctuation in exchange
25,032,505.76 -666,150.38
rate on cash and cash equivalents
5. Net increase in cash and cash 263,096,871.82 -338,443,676.83
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Q3 2022 Report of Luzhou Laojiao Co., Ltd.
equivalents
Plus: balance of cash and cash
equivalents at the beginning of the 13,402,528,941.83 11,568,195,062.81
period
6. Balance of cash and cash
equivalents at the end of the 13,665,625,813.65 11,229,751,385.98
period
4.2 Auditor’s report
Whether the financial statements of this report have been audited by an auditor
□Yes No
The said financial statements are unaudited by an auditor.
The Board of Directors of Luzhou Laojiao Co., Ltd.
28 October 2022
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